Manufacturing facility for spinning and knitting is also being set up by the company by adding 30,000 spindles and 720 rotors to existing facility of 33,216 spindles.
On going expansion will require investment of Rs240 crore which will take three months to complete, Gupta said.
The company exports its cotton, acrylic, polyester, cotton acrylic, hand knitting and mink blankets to the markets of the USA, Canada, UK, Hungary, Egypt, Saudi Arabia, Korea and Hong Kong.
Talks are underway with US-based companies like Reebok and Gap for knitwear and yarns of the company.
Tie up with companies like Birla, Reliance and Walmart, which are entering Indian market with their retail chain is on the anvil, said Gupta.
marketing@alchempro.com
